Thanks as well I didn't know quarterly payments were required. You happen to know why do futures traders have to pay quarterly and stock traders yearly?
Santelli is the smartest guy on cnbc, hes the only reason I watch cnbc. They should have him on more often, get him to replace steve liesman or that useless blond guy.
This is what I think is happing with regard to BAC and C recently, tell me if you agree/disagree:
The market knows BAC, and C are insolvent. The market also knows that the government won't let them fail since they are too big to fail. The market is desperately seeking a solution such as...
>400 Ive seen it gap -400 at the open a few months back. If they let bac or c fail the dow will crash -30% conservatively in a day. If they nationalize them the market will probably have a huge rally.
There are tons of millionaires in the US. You basically have to be rich to shop at wfmi, but many people who are accept no substitute and do all their shopping at whole foods.
Don't forget the big one the nrg problem. Peak oil, peak coal, peak natural gas, peak uranium all happening now. Peak food, peak water, peak copper/aluminum/iron, peak Chinese junk, peak fish, peak everything, etc.
I find this post ironic considering this is a trading forum. All people here do is try to make a profit from the 'value' of money, by whatever means necessary.
Nobody profiting off lending money would be fine in the perfect world with no inflation and 100% debt repayment. The problem isn't...
Yes it will happen and soon. There will be recession back to back. It will be ugly. It won't be as bad as the great depression in the beginning, but it will get there after a decade or so.
How long? Indefinitely, until a new societal structure not based on exponential resource depletion is...